Thu, Apr 17, 2014
A A A
Welcome sandeep.kottawar@wns.com
RSS
Sovereign Wealth Funds Briefing 23.Jan 2014

Posted on 23 January 2014 by VRS |  Email |Print

The Libyan Investment Authority, the north African nation’s sovereign wealth fund, sued Goldman Sachs Group Inc. in the U.K. over investments worth more than $1 billion.
“Goldman Sachs abused the relationship of trust and confidence with the then newly-formed LIA, being the sovereign wealth fund of the Libyan people,” a spokesman for the fund, who declined to give his name in line with company policy, said. The fund suffered “significant losses.”…………………………….Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

Zimbabwe on Tuesday officially tabled its Sovereign Wealth Fund (SWF) which will use the proceeds of royalties from gold, platinum, nickel and diamonds and invest them in “gold bullion, stockpiles of precious stones”, as well as other “foreign assets”.
Zimbabwe’s Chamber of Mines said about 75% of the country’s gold miners will collapse if the royalties are not reviewed. Platinum producers in Zimbabwe have submitted plans to set-up a refinery to avoid a further 15% levy on raw platinum exports. Mining industry sources and executives said on Tuesday that they were still pressing the government to review the royalties downwards……………………………..Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

A bill outlining the full development of Zimbabwe’s sovereign wealth fund was tabled in parliament on Tuesday. The fund will now be invested in gold bullion and stockpiles of precious stones.
Mining companies in the country will contribute to the fund through royalties on gold, diamonds, nickel, platinum, coal and coal methane gas. Analysts said the fund was a workable idea although they raised concern regarding the increased focus on mining to boost government revenue and economic projects……………………………..Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

Tanzania is holding talks with foreign companies planning uranium and nickel production in the country to ensure the government receives stakes under a 2010 law requiring it to take shares in strategic mines, its president Jakaya Kikwete said.
Kikwete also said the government plans to pass legislation this year to create a sovereign wealth fund to manage future revenues from gas production……………………………..Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

A sovereign wealth fund in which all revenue from natural gas will be deposited in a bid to safeguard the interests of future generations is in the pipeline.
A bill to establish the fund will be tabled in Parliament in October, President Jakaya Kikwete said while opening the two-day consultative meeting between religious leaders and the Ministry of Energy and Minerals in Dar es Salaam on Tuesday…………………………….Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

A changing of the guard at the top of the China Investment Corporation, the $575 billion Chinese sovereign wealth fund, may take it closer to resembling its newfound role model: Yale Endowment.
Today, word reached the Chinese press that Gao Xiqing, the president of CIC and also one of its founders, is to step down into retirement, to be replaced by the chief investment officer he recruited in 2011, Li Keping. This is the second major change at the top of CIC in less than a year, after Ding Xuedong became chairman in July……………………………..Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

The retirement of Gao Xiqing as president of the China Investment Corporation, China’s sovereign wealth fund, has fund managers wondering what the change of leadership will mean for asset allocation and the fund’s use of external managers.
Gao, one of the CIC’s founders, and instrumental in many of its most well-known (and sometimes ill-fated) deals, is to be replaced by Li Keping, who is the chief investment officer. This is the second change in top leadership positions at CIC in less than a year, with Ding Xuedong becoming chairman of CIC in July 2013……………………………..Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

Ding Xuedong is Chairman of the China Investment Corporation, China’s largest sovereign wealth fund with $600 billion under management. China Investment Corporation must give full consideration to the interests of all parties and uphold a mutually beneficial business model.
Currently, more than half of our capital is invested in developed economies, but we have also raised the share of capital allocation toward emerging economies and other developing countries……………………………..Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

One of the world’s largest sovereign wealth funds, China Investment Corp, has appointed a new managing director as it aims to stabilise its volatile investment returns. The fund’s former managing director, Gao Xiqing, retired from the fund that he had led since 2007 after reaching China’s official pension age of 60.
Li Keping, who has been the deputy director of the fund for the past two years, will become the managing director and vice-chairman……………………………..Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

Malaysia’s sovereign wealth fund, reported a net asset value of RM 103.5 billion (US$ 31.2 billion) as of December 31, 2013. The new value includes a 19.1% increase during 2013, said the fund in a statement. It also represents a threefold increase in net asset value since 2004.

This past year, the sovereign fund soundly bested regional indices including MSCI Asia Ex-Japan, which returned 10.8% last year. A statement made by Khazanah credits the following companies with its impressive growth since 2004: “Telekom Malaysia Berhad and Axiata Group Berhad (RM21.3 billion), UEM Group Berhad (RM15.8 billion), Tenaga Nasional Berhad (“TNB”) with RM12.8 billion, CIMB Group Berhad (RM11.6 billion), and the healthcare sector with a contribution of RM8.6 billion.”…………………………….Full Article: Source

Posted on 23 January 2014 by VRS |  Email |Print

In May 2012, the world’s biggest sovereign wealth fund joined US investors BlackRock and Waddell & Reed to buy a $1.6 billion (R17bn) stake in motor racing’s Formula One. The people who had worked on the deal for months were looking forward to celebrating their hard work.
Then they got an e-mail from their boss. Under no circumstances were they to be seen drinking champagne in the VIP tribune at the Monaco Grand Prix. “We have high expectations in terms of ethical standards, also for ourselves,” said Yngve Slyngstad, the head of the Government Pension Fund Global, which invests $163 000 of oil and gas wealth for each man, woman and child in Norway……………………………..Full Article: Source

See more articles in the archive

banner
banner
April 2014
M T W T F S S
« Mar    
 123456
78910111213
14151617181920
21222324252627
282930